Also, ROI in certain states/cities are not created equal.

He couldnt get the mortgage he wanted and needed help with the down payment from me, so we formed an LLC to buy the house with each of us investing 50-50 equally on the down payment. 

You would need over 16 years of cash flow to equal 300,000.Tough call.

It has always had the worse rent to value ratio of any of my properties.My belief is holds over 10 years are almost certainty best to purchase.

All things being equal between two areas, if cap rates are similar, but one area is likely to have more appreciation in the future, that is something I would take into consideration, though.

Or would they be equally content with paper assets in the future?

If the hot tub you have is hard to keep clean (and keep in mind: the hot tub looking clean is equally as important as it actually being clean), or if it breaks down in the middle of a guest's stay, it can easily cost you in the form refunding part/all of a booked reservation, or lead to your listing getting bad reviews. 

But MTR is a great equalizer.

If they are VERY professional, they will have their processes in writing as verification that policies are enforced equally and fairly by their entire staff.6.

@Justin GarrettWould love to have you at our live event in October talking about your success with the mom and pop strategyBTW it was all youKnowledge plus action equals powerBest Gino